Hyundai Motor America Reports Record-Breaking March and Q1 2023 Sales

Rhea-AI Summary

Hyundai Motor America reported record-breaking total and retail sales in March and Q1 2023. Total sales rose by 27% in March compared to March 2022, totaling 75,404 units. This marks the fifth consecutive month of setting total sales records. In Q1, total sales reached 184,449 units, a 16% year-over-year increase. Retail sales also increased by 15% in March, reaching 68,312 units. Noteworthy performers included Venue (+74%), Elantra HEV (+37%), and Tucson HEV (+52%). Hyundai's eco-friendly vehicle sales accounted for 17% of retail sales. March fleet sales formed 9.4% of total sales.

Positive

• March total sales increased by 27% year-over-year, reaching 75,404 units.
• Q1 total sales set a record of 184,449 units, a 16% increase from Q1 2022.
• March retail sales up by 15%, totaling 68,312 units.
• Eco-friendly vehicle sales represented 17% of retail sales, showing a 20% year-over-year increase.

Negative

• Ioniq 5 sales decreased by 22% in March compared to the previous year.
• Santa Fe HEV and Tucson HEV recorded significant sales increases, but overall market competition may impact future performance.

• Hyundai Sets New Q1 Total and Retail Sales Record; Q1 Total Sales Increased 16%
• March Total Sales Increased 27%; Fifth Consecutive Month With A Total Sales Record
• March Retail Sales Up 15%
• All-Time Best-Ever Records for Santa Cruz and Santa Fe HEV

FOUNTAIN VALLEY, Calif., April 1, 2023 /PRNewswire/ -- Hyundai Motor America reported total March sales of 75,404 units, a 27% increase compared with March 2022 and the best March in Hyundai history. This was the fifth consecutive month with a total monthly sales record, led by Venue (+74%), Elantra HEV (+37%), Tucson HEV (+52%), and Kona N (+5%). March was an all-time best-ever retail and total sales record for Santa Cruz (+30%) and Santa Fe HEV (+123%). Hyundai fleet sales were 9.4% of total volume for the month.

"March 2023 will be a month to remember and a great way to finish the quarter with our fifth straight month of record total sales," said Randy Parker, CEO, Hyundai Motor America. "We're set for an exciting announcement with the launch of the all-new Kona at the New York International Auto Show and we're celebrating our 25th anniversary of Hyundai Hope On Wheels."

March Retail Highlights

Hyundai sold 68,312 retail units in March, a 15% year-over-year increase from March 2022. March retail sales were led by Venue, Elantra HEV, Santa Fe HEV, Tucson HEV, Santa Cruz and Kona N. Hyundai eco-friendly vehicle sales of 11,407 represented 17% of retail and a 20% year-over-year increase.

Q1 Highlights

In the first quarter, Hyundai total sales were 184,449 units, a Q1 total sales record and an increase of 16% year-over-year. Q1 retail sales were 169,491 a 6% increase compared with Q1 2022. Hyundai also set new Q1 total and retail sales records for Venue, Elantra N, Santa Fe HEV, Tucson, Tucson HEV, Santa Cruz and Kona EV.

March Total Sales Summary

	Mar-23	Mar-22	% Chg	YTD (Q1) 2023	YTD (Q1) 2022	% Chg
Hyundai	75,404	59,380	+27 %	184,449	159,676	+16 %

March Product and Corporate Activities

• The New SONATA Spices Up Midsize Sedan Segment: Hyundai Motor Company revealed the design of the new SONATA, with a new badge for the eighth-generation midsize sedan that heralds its sportiest design ever.
• U.S. News & World Report Names Santa Fe and Tucson 2023 Best Cars for Families: Hyundai received two 2023 Best Cars for Families awards by U.S. News & World Report. The Hyundai Santa Fe was named Best 2-row SUV for Families, and for a second time the Hyundai Tucson deemed Best Compact SUV for families.
• All-new KONA Accelerates Hyundai's Electrification Vision: Hyundai Motor Company held a digital world premiere to unveil the all-new Kona, an upscaled multiplayer in the B-SUV segment, led by an all-electric variant (EV) that offers advanced safety and convenience features and class-leading range.
• Thirteen New "Journeys" in Portrait Series with Annie Leibovitz: Hyundai launched the second chapter in the creative marketing campaign, "Journeys", which uses a series of portraits and videos to share the compelling stories of individuals that inspire the brand.
• Top Scorers on ACEEE's Greenest Vehicles List: The 2023 Hyundai Elantra Hybrid Blue, Sonata Hybrid Blue and Kona Electric were named on the American Council for an Energy-Efficient Economy's (ACEEE) list of "Greenest Vehicles of 2023."
• Hyundai Launches Annual Women in STEM Scholarship: To celebrate International Women's Day, Hyundai Motor America has announced that applications for its annual Hyundai Women in STEM Scholarship are now open.

Model Total Sales

Vehicles	Mar-23	Mar-22	% Chg	YTD (Q1) 2023	YTD (Q1) 2022	% Chg
Accent	2	1,446	-100 %	30	2,697	-99 %
Elantra	13,447	10,205	+32 %	32,473	22,072	+47 %
Ioniq	0	860	0 %	0	3,544	0 %
Ioniq 5	2,114	2,700	-22 %	5,736	6,244	-8 %
Ioniq 6	222	0	0 %	222	0	0 %
Kona	7,314	6,053	+21 %	19,220	15,536	+24 %
Nexo	21	113	-81 %	65	166	-61 %
Palisade	6,176	7,283	-15 %	19,602	21,025	-7 %
Santa Cruz	3,825	2,950	+30 %	9,307	8,400	+11 %
Santa Fe	13,236	10,124	+31 %	28,526	25,582	+12 %
Sonata	5,310	1,716	+209 %	14,490	7,744	+87 %
Tucson	20,111	13,642	+47 %	46,170	39,655	+16 %
Veloster	1	205	-100 %	5	462	-99 %
Venue	3,625	2,083	+74 %	8,603	6,549	+31 %

Hyundai Motor America

Hyundai Motor America focuses on 'Progress for Humanity' and smart mobility solutions. Hyundai offers U.S. consumers a technology-rich lineup of cars, SUVs, and electrified vehicles. Our 830 dealers sold more than 724,000 vehicles in the U.S. in 2022, and nearly half were built at Hyundai Motor Manufacturing Alabama. For more information, visit www.hyundainews.com.

Hyundai Motor America on Twitter | YouTube | Facebook | Instagram | LinkedIn | TikTok

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SOURCE Hyundai Motor America

FAQ

What were Hyundai's total sales in March 2023 for stock symbol HYMTF?

Hyundai's total sales in March 2023 reached 75,404 units, a 27% increase year-over-year.

How did Hyundai perform in Q1 2023 compared to Q1 2022 for HYMTF?

In Q1 2023, Hyundai reported total sales of 184,449 units, marking a 16% year-over-year increase.

What percentage of Hyundai's March retail sales were eco-friendly vehicles for HYMTF?

Eco-friendly vehicle sales accounted for 17% of Hyundai's retail sales in March 2023.

What were the notable performers among Hyundai's models in March 2023 for HYMTF?

Key models included Venue (+74%), Elantra HEV (+37%), and Tucson HEV (+52%).

How much did Hyundai's retail sales increase in March 2023 for the stock symbol HYMTF?

Hyundai's retail sales increased by 15% in March 2023, totaling 68,312 units.